Bank of Hawaii Corp. (BOH) Upgraded to Buy by Zacks Investment Research
Bank of Hawaii Corp. (NYSE:BOH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $83.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 11.54% from the company’s current price.
According to Zacks, “Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers and governments in Hawaii, American Samoa and the West Pacific. The Company’s principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii. “
Other equities research analysts have also issued research reports about the company. Piper Jaffray Cos. began coverage on Bank of Hawaii Corp. in a research note on Friday, July 8th. They set a “neutral” rating and a $70.00 price target on the stock. DA Davidson boosted their price target on Bank of Hawaii Corp. from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 26th. Royal Bank Of Canada boosted their price target on Bank of Hawaii Corp. from $68.00 to $72.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 26th. Barclays PLC reissued an “equal weight” rating and set a $66.00 price target on shares of Bank of Hawaii Corp. in a research note on Tuesday, July 26th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $72.00 price target (up previously from $68.00) on shares of Bank of Hawaii Corp. in a research note on Tuesday, July 26th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $70.00.
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Bank of Hawaii Corp. (NYSE:BOH) traded up 0.79% during midday trading on Monday, hitting $74.41. The company had a trading volume of 167,051 shares. The stock’s 50-day moving average price is $71.70 and its 200-day moving average price is $69.53. Bank of Hawaii Corp. has a 52-week low of $54.55 and a 52-week high of $74.69. The stock has a market cap of $3.19 billion, a PE ratio of 18.75 and a beta of 0.99.
Bank of Hawaii Corp. (NYSE:BOH) last released its earnings results on Monday, July 25th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.10. Bank of Hawaii Corp. had a return on equity of 15.21% and a net margin of 26.96%. The company had revenue of $150.10 million for the quarter, compared to analysts’ expectations of $149.13 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities research analysts expect that Bank of Hawaii Corp. will post $4.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, August 29th. Bank of Hawaii Corp.’s dividend payout ratio is presently 48.36%.
Several hedge funds and other institutional investors have recently modified their holdings of BOH. First American Bank raised its position in shares of Bank of Hawaii Corp. by 3.1% in the third quarter. First American Bank now owns 51,678 shares of the company’s stock worth $3,753,000 after buying an additional 1,549 shares in the last quarter. Liberty Capital Management Inc. acquired a new position in shares of Bank of Hawaii Corp. during the third quarter worth $173,000. Independent Portfolio Consultants Inc. raised its position in shares of Bank of Hawaii Corp. by 4.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 3,225 shares of the company’s stock worth $234,000 after buying an additional 150 shares in the last quarter. Mason Street Advisors LLC acquired a new position in shares of Bank of Hawaii Corp. during the second quarter worth $1,350,000. Finally, Calvert Investment Management Inc. raised its position in shares of Bank of Hawaii Corp. by 4.8% in the second quarter. Calvert Investment Management Inc. now owns 3,392 shares of the company’s stock worth $233,000 after buying an additional 156 shares in the last quarter. 76.08% of the stock is currently owned by institutional investors.
Bank of Hawaii Corp. Company Profile
Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial services and products primarily to customers in Hawaii, Guam and other Pacific Islands. The Company operates through four business segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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